Observe Medical ASA: Allocation of offer shares to primary insiders and close associates

Reference is made to the stock exchange announcement published by Observe Medical ASA (the "Company") on 12 December 2023 regarding the final results of the rights issue (the "Rights Issue").

As of this date, the Company has been informed that certain primary insiders and close associates have been allocated new shares in the Rights Issue, as set out in the attached mandatory notifications of trade.

This information is subject to the disclosure requirements pursuant to article 19 of the EU Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

For further information about the Company, please contact:

Rune Nystad, CEO Observe Medical

Mobile: +47 916 24 683

E-mail: rune.nystad@observemedical.com

Per Arne Nygård, CFO Observe Medical

Mobile: +47 411 04 345

E-mail: perarne.nygard@observemedical.com

About Observe Medical

Observe Medical is a Nordic medtech company that develops, markets and sells innovative medtech products for the global market. The Company is committed to improving patient welfare and patient outcomes, improving clinical data accuracy and promoting positive health economics.

The Company seeks to drive growth by leveraging its expertise in sales and commercialization of its broad portfolio of medical technology products, mainly in urine measurement, ultrasound, anesthesiology/ICUs, surgery and wound care, in combination with targeted M&A.

The Company is headquartered in Oslo, Norway, with additional offices in Narvik, Norway and Gothenburg, Sweden, and subsidiaries in Finland and the US. In addition, Observe Medical has a direct sale organization in the Nordics and a distributor network internationally.

Further information is available at www.observemedical.com.